Turkish Airlines has successfully executed a financing transaction for one A350 aircraft.
The financing, denominated in Swiss francs (CHF), was completed through an Islamic finance structure. The Ijarah-based finance lease was arranged with Dubai Islamic Bank (DIB), the world’s first Islamic bank and the largest in the United Arab Emirates (UAE).
“This transaction demonstrates our commitment to financial innovation and strengthening our fleet while also marking a new chapter in our cooperation with leading institutions in the UAE and the broader Gulf region,” said Turkish Airlines chairman of the board and the executive committee, Ahmet Bolat.
Nearly one year in the making, this transaction is the result of close collaboration between Turkish Airlines and DIB, aimed at incorporating diverse financial instruments into Turkish’s funding strategy.
Commenting on the transaction, Adnan Chilwan, DIB group chief executive officer stated: “The fact they (Turkish) chose Islamic finance for the first time in their history marks a significant milestone for our industry, one we are proud to help shape. This transaction not only supports the airline’s continued growth but also reinforces the growing relevance of Sharia-compliant finance across global markets.”
This move is also aimed at strengthening relationships with institutions across the Gulf region and support its long-term fleet expansion targets by 2033, the 100th anniversary of the flag carrier.